Volkswagen is crashing hard after Audi got dragged into the emissions scandal

Business Insider ^ | 09/28/2015 | Oscar Williams-Grut

[SeekAndFind]

The weekend break has not helped Volkswagen.

Shares in the troubled German carmaker are crashing again, down 8.5% at 12.50 a.m. BST (7.50 a.m. ET).
Google Finance

Volkswagen shares have been diving since it emerged that software in the company's cars was juicing the numbers on diesel emissions.

On Monday, news broke that the scandal was even worse than first thought — over 2 million Audi cars are fitted with the same emissions-cheating software as Volkswagen's cars. Audi is owned by Volkswagen and produces higher-end cars.

Bloomberg is also reporting that Volkswagen executives in Germany were directly involved in the faking of emissions, and former CEO Martin Winterkorn is facing an investigation by German prosecutors.

Earlier on Monday, the Financial Times warned the scandal could be "worse than Enron." Volkswagen named Porsche CEO Matthias Müller as its new boss late on Friday — he's got an unenviable job.

[DungeonMaster]

Reparations on Germany, not a great idea.

[TalonDJ]

Yeah but that was for safety. This is not safety related.

[Flavious_Maximus]

You must be younger than 30 years old otherwise you would remember all those disgusting Volkswagen commercials in the late 90s depicting two queers in a Volkswagen Rabbit (holding hands and appearing to perform mutual masturbation).

Currently under the Obama homosexual regime, it would be difficult to find any business that does not support homosexual issues but there are some companies that are not so militant about it (like Nissan).

Here is a link that shows Toyota and Volkswagen as the worst offenders.

http://www.wnd.com/2011/03/271013/

[SeekAndFind]

Where did you get this number? Has any government agency taken any action against VW?

SOURCE:

Volkswagen faces a possible $18 billion EPA fine for cheating on emissions tests

[SeekAndFind]

REUTERS:

Volkswagen could face $18 billion penalties from EPA

[Moltke]

Volkswagen has for more than 40 years been a leading hard core advocate of the homosexual agenda.

I'd be interested to see evidence for that conjecture.

[Oberon]

I see 2015 VW TDI sedans in my neighborhood and think: that car probably cost $35K... now what is it worth?

Buying opportunity... cheap. Just don't get the e-proms flashed.

[Oberon]

Local emissions tests will probably stop the driving of a large percentage of these vehicles until fixed...

Not so, if I understand things correctly. Unless local jurisdictions change their test methods, VW diesels using the old software will coast right through the emissions testing just like they always did.

And I don't see the state of North Carolina changing their laws to mandate real-time-driving-tests for emissions inspection. It's not practical.

[Blue Jays]

Flavious_Maximus...my age is irrelevant, yet I do know that I do not wish to see VW/Audi/Porsche fail in this country.
Companies do not care precisely who purchases their products, they just wish for more "widgets" to be sold, regardless of industry.
Your wish to see this firm crumble will hurt MILLIONS of decent Americans, won't materially alter VW/Audi/Porsche advertising, and manufacturers will still sell vehicles to anyone with money in their hands.

[CommerceComet]

Volkswagen faces a possible $18 billion EPA fine for cheating on emissions tests

Get back to me when it really happens. To attract attention, widely exaggerated amounts are frequently used. It is SOP for headline writers. It is far from a done deal and shouldn't be referred to as if it is.

VW will act all contrite - most, if not all, of top management will step down (which has already started) as will the directors. VW will promise all kinds of reforms. The EPA will scale back the possible fines to a still substantial amount but something far less than $18 billion. That's the way the game works. The EPA will get a large fine so it can claim victory and VW will pay something that it can afford.

[Squeako]

Exactly what I’m thinking. Might be the perfect time to pick one up!

[Charles Martel]

As stated elsewhere this will probably be mostly software update. As anyone who watches "Street Outlaws", the show about street drag racers, knows: there is almost infinite variability in how you program a cars electronic ignition and fuel injection.

It's quite possible that the "tuner" manufacturers already have the VW "cheat" code (and more) ready to apply, should any "post-recall" TDI owners wish restore their car's former economy and/or performance.

[Slambat]

“GM killed people, but Volkswagen killed the air!”

GM = Government Motors and I doubt they had to pay a cent.

You drive GM you support the Obama.

[Charles Martel]

Remember, it’s illegal (correct me if wrong) to sell a vehicle which you know has a sub-par emissions system.

Sort of a gray area, if the seller provides a tuner device which can be used to restore the factory settings at the purchaser's discretion. Most are "locked" to a single vehicle (at a time) by VIN.

[TexasTransplant]

**** “..........why wouldn’t it be more fair to the general publics around the world to jail the exec’s and engineers (for 5-10 years) that pulled this off and fine VW one dollar!

The US could simply say to Germany “give us 18 billion or put this list of creeps in prison”.

This message of JAIL is long over-due for Corporate Execs around the world!” ****

No Fine, Medals for the Engineers and shoot the EPA

[oldtech]

I think everyone should be going after the EPA instead. It’s just possible that VW has met the letter of the law. Besides,I don’t see a problem except in certain areas. It seems if they clean up the diesel,there are still problems because of cost & that will translate to higher prices & probably kill some sales. Then again,we don’t know yet if other manufacturers are going to be affected.

[mad_as_he$$]

By regulation OBD2 connectors cannot have anything that has to be removed in front of them. The exception is a dust cover that doesn’t require tools.

[bboop]

I agree - everyone should be going after the EPA. They are just like the IRS/ doing shakedown across the universe wherever they can. This is for some insignificant reg that was stupid in the first place. EPA - ‘Clean water starts with you and ends with us.’ They are WAY out of control.

[truth_seeker]

The 3 vehicles parked at my house are ALL VW/Audi

One is TDi purchased just 11 days before the scandal hit the news.

The 500,000 VW/Audi TDi vehicles sold in the US pale, compared to the 11 million sold worldwide. In Europe they are very concerned about this.

I like the car and the fuel economy. I intend to take the TDi badge off, however.

[Fledermaus]

Emission standards are stupid. The left now whines about CO2 but the catalytic converter changes CO to CO2 and was mandated by the liberal tyrants.